<?xml version='1.0' encoding='utf-8'?>
<section article="gec" article_name="Economic Development" number="12-1212" title_number="12" title_name="Local Development Authorities and Resources" subtitle_number="12">
  <level label="a">
    <text>The Authority may create and administer the accounts that the Authority requires.</text>
  </level>
  <level label="b">
    <text>The Authority shall deposit its money into a Prince George’s County or national bank or a federally insured savings and loan association that has a total paid–in capital of at least $1,000,000.</text>
  </level>
  <level label="c">
    <text>The Authority may designate the trust department of a Prince George’s County or national bank or savings and loan association as a depository to receive securities that the Authority owns or acquires.</text>
  </level>
</section>
